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Xeris Pharmaceuticals (XERS)
NASDAQ:XERS
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Xeris Pharmaceuticals
(NASDAQ:XERS)
61Neutral
Positive Factors
Earnings
Xeris reported 4Q24 financials with total net product revenues of $57.0M, representing ~34% Y/Y growth and marking the 13th consecutive quarter of >20% growth.
Guidance
Xeris's first-time 2025 guidance for $255-275M revenue was a surprising 11% above estimates and up 30% YoY at the midpoint.
Valuation
XERS stock is materially undervaluing the business at just 2.7x EV/REV, which is considered too cheap given its growth.
Negative Factors
Partnerships
Amgen terminated their XeriJect license agreement with Xeris, which might weigh on the stock incrementally.
Xeris Pharmaceuticals (XERS) vs. S&P 500 (SPY)
Market Cap
$661.94M
Dividend YieldN/A
Average Volume (3M)3.07M
Price to Earnings (P/E)―
Beta (1Y)1.27
Revenue Growth29.88%
EPS Growth35.11%
CountryUS
Employees394
SectorHealthcare
Sector Strength50
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.06
Shares Outstanding153,940,140
10 Day Avg. Volume2,116,175
30 Day Avg. Volume3,072,055
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.07
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit4.24
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.25Price Target Upside24.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Xeris Pharmaceuticals Business Overview & Revenue Model
Company DescriptionXeris Pharmaceuticals, Inc. is a specialty pharmaceutical company that focuses on developing and commercializing innovative therapies for the treatment of endocrine and metabolic diseases. The company is known for its proprietary technology platforms, including the XeriSol and XeriJect formulation technologies, which enhance the delivery and stability of injectable therapeutics. Xeris Pharmaceuticals primarily operates in the biopharmaceutical sector, offering solutions that address critical unmet medical needs for patients and healthcare providers.
How the Company Makes MoneyXeris Pharmaceuticals generates revenue through the sale of its pharmaceutical products, which include ready-to-use injectables for treating acute and chronic medical conditions. Key revenue streams for the company include sales of its flagship products like Gvoke, a glucagon injection used to treat severe hypoglycemia. Xeris also earns revenue through partnerships and collaborations with other pharmaceutical companies, leveraging its proprietary formulation technologies to develop new therapeutics. Additionally, the company may receive milestone payments and royalties from collaborative agreements, contributing to its overall earnings.
Xeris Pharmaceuticals Financial Statement Overview
Summary
Xeris Pharmaceuticals exhibits strong revenue growth but faces profitability and financial stability challenges. The income statement shows improving but still negative margins, while the balance sheet reveals high leverage risk due to negative equity. Cash flow improvements are evident, yet the company remains reliant on external funding.Income Statement
Xeris Pharmaceuticals has shown a consistent increase in revenue over the years, with a revenue growth rate of 23.89% from 2023 to TTM 2024. However, the company is still operating at a net loss with a negative net profit margin of -27.00% and a negative EBIT margin of -16.57%. Gross profit margin remains relatively strong at 83.88%, indicating effective cost management in production. The EBITDA margin is improving but remains negative, showing progress yet still indicating the need for profitability improvements.55
Neutral
Balance Sheet
The company's balance sheet indicates financial instability with a negative stockholders' equity of -$29.62 million, showing liabilities exceed assets. The debt-to-equity ratio is not meaningful due to negative equity, suggesting high leverage risk. Although the equity ratio is negative, some improvement is noted in the total liabilities management compared to previous years. Nonetheless, the financial stability remains a concern.40
Negative
Cash Flow
Xeris Pharmaceuticals' cash flow shows signs of strain with a negative free cash flow of -$39.60 million in TTM 2024, although there is a notable 19.65% improvement in operating cash flow from 2023. The free cash flow to net income ratio is slightly improving but still negative, indicating challenges in turning profits into cash flow. Financing activities appear strong, hinting at external funding support for operations.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 203.07M | 163.91M | 110.25M | 110.25M | 49.59M | Gross Profit |
| 166.24M | 135.27M | 87.61M | 87.61M | 36.27M | EBIT |
| -33.65M | -44.01M | -81.94M | -81.94M | -115.16M | EBITDA |
| -13.99M | -23.73M | -69.31M | -113.67M | -80.08M | Net Income Common Stockholders |
| -54.84M | -62.26M | -94.66M | -94.66M | -122.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 71.62M | 72.45M | 121.97M | 121.97M | 102.43M | Total Assets |
| 323.06M | 322.60M | 344.52M | 344.52M | 304.36M | Total Debt |
| 271.45M | 229.19M | 198.06M | 198.06M | 88.07M | Net Debt |
| 199.83M | 161.74M | 76.09M | 76.09M | 20.80M | Total Liabilities |
| 352.68M | 329.38M | 299.33M | 299.33M | 209.13M | Stockholders Equity |
| -29.61M | -6.78M | 45.19M | 45.19M | 95.23M |
| Cash Flow | Free Cash Flow | |||
| -37.85M | -49.29M | -103.42M | -103.42M | -96.62M | Operating Cash Flow |
| -36.98M | -47.02M | -102.89M | -102.89M | -95.53M | Investing Cash Flow |
| 4.88M | -6.00M | 34.46M | 34.46M | 97.96M | Financing Cash Flow |
| 36.17M | -1.61M | 127.47M | 127.47M | 27.25M |
Xeris Pharmaceuticals Technical Analysis
Positive
5.01
Price Trends
4.63
Positive
4.07
Positive
3.50
Positive
Market Momentum
0.07
Negative
59.63
Neutral
71.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XERS, the sentiment is Positive. The current price of 5.01 is above the 20-day moving average (MA) of 4.39, above the 50-day MA of 4.63, and above the 200-day MA of 3.50, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 59.63 is Neutral, neither overbought nor oversold. The STOCH value of 71.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XERS.
Xeris Pharmaceuticals Risk Analysis
Xeris Pharmaceuticals disclosed 83 risk factors in its most recent earnings report. Xeris Pharmaceuticals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Xeris Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $661.94M | ― | 222.83% | ― | 29.88% | 35.11% | |
52 Neutral | $5.17B | 3.59 | -42.19% | 2.82% | 15.05% | -0.04% | |
47 Neutral | $735.29M | ― | -64.16% | ― | -30.25% | -5.92% | |
45 Neutral | $823.53M | ― | -29.80% | ― | 85.05% | 15.96% | |
45 Neutral | $601.94M | ― | -33.48% | ― | -25.88% | -29.16% | |
42 Neutral | $716.38M | ― | -63.56% | ― | 270.02% | 32.69% | |
41 Neutral | $604.91M | ― | -15.59% | ― | -24.17% | -9.24% |
* Healthcare Sector Average
Performance Comparison
XERS
Xeris Pharmaceuticals
5.01
3.25
184.66%
XNCR
Xencor
8.33
-14.15
-62.94%
ZYME
Zymeworks
11.30
2.49
28.26%
NRIX
Nurix Therapeutics
9.50
-4.01
-29.68%
PRAX
Praxis Precision Medicines
38.35
-10.43
-21.38%
ABCL
AbCellera Biologics
2.03
-1.80
-47.00%
Xeris Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 11.83%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong positive sentiment with significant revenue growth, a successful product portfolio, and strategic FDA approval. While there is an increase in SG&A expenses, the overall performance remains robust, supported by strong financial metrics and promising pipeline developments.Q1-2025 Updates
Positive Updates
Record-Breaking Revenue Growth
Total revenue grew 48% year-over-year to $60.1 million, marking the fourteenth consecutive quarter of over 20% product revenue growth.
Strong Performance of Recorlev
Recorlev net revenue was $25.5 million, up 141% compared to last year, with a 24% increase in the average number of patients.
FDA Approval for Gvoke VialDx
Gvoke VialDx received FDA approval, expanding its use as a diagnostic aid during radiologic examination, in partnership with American Regent.
Positive Adjusted EBITDA
Adjusted EBITDA for the quarter was a positive $4.4 million, supporting the commitment to delivering positive adjusted EBITDA going forward.
Strong Gross Margin
Gross margin in the quarter was 85%, showing a sequential improvement of 200 basis points due to a favorable product mix.
Pipeline Progress with XP-8121
Development of XP-8121 continues to address unmet needs in the hypothyroidism market, with more updates expected at the analyst and investor day.
Negative Updates
Increased SG&A Expenses
Selling, general, and administrative expenses were $44 million, a 15% increase compared to the prior year, influenced by commercial expansion and personnel costs.
Company Guidance
In the call, Xeris Biopharma Holdings, Inc. provided guidance updates and highlighted strong financial performance metrics for the first quarter of 2025. Total revenue grew by 48% year-over-year, reaching $60.1 million, driven by a 41% increase in Recorlev revenue, which exceeded $25 million. The company raised the lower end of its full-year revenue guidance from $255 million to $260 million, indicating an implied full-year total revenue growth of nearly 32% at the midpoint. The gross margin for the quarter was 85%, and the company achieved a positive adjusted EBITDA of $4.4 million. Xeris also noted strategic advancements, such as the FDA approval of Gvoke VialDx and a partnership with American Regent for its commercialization. The company aims to maintain financial discipline, with SG&A and R&D expenses projected to grow in the mid to high single digits, and it plans to remain adjusted EBITDA positive moving forward.Xeris Pharmaceuticals Corporate Events
Executive/Board Changes
Xeris Pharmaceuticals Announces Board Changes with New Appointment
Neutral
Mar 28, 2025
On March 28, 2025, Xeris Biopharma Holdings announced significant changes to its board of directors. Ricki Fairley resigned due to other commitments, and John Schmid decided not to seek re-election at the 2025 Annual Meeting, leading to a reduction in board size to eight members. James Brady was appointed as a new director, bringing extensive experience from his previous roles at AstraZeneca, including as CFO of MedImmune. His appointment is expected to enhance the board’s expertise as Xeris continues to innovate and expand its market presence.
Executive/Board ChangesBusiness Operations and Strategy
Xeris Pharmaceuticals Appoints New Chief Medical Officer
Neutral
Feb 24, 2025
On February 24, 2025, Xeris Biopharma announced the retirement of Ken Johnson as Senior Vice President, Global Development and Medical Affairs, effective April 1, 2025, and the appointment of Dr. Anh Nguyen as Chief Medical Officer, effective immediately. Dr. Nguyen, who brings extensive clinical and leadership experience, will lead the strategic direction for Xeris’ medical and regulatory functions, coinciding with the company’s Phase 3 development of XP-8121 and efforts to expand its commercial portfolio. This leadership transition is expected to ensure continuity and drive future growth, with Mr. Johnson assisting in the transition process.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.